Looking at the 4h candle confirms #BTC bulltrap:

✅ 1. Strong pump surpassing the old peak in a short time

• From ~115k to 123k very quickly → creates a feeling of a true breakout.

• But then a strong candle pullback and closes below the breakout zone → clear sign of a bulltrap.

✅ 2. Long candle wick at the top – increased volume – RSI reversal

• High volume, strong RSI reversal → confirms there is a strong selling force from whales.

✅ 3. Price breaks below EMA 20 on the 4h chart after the bulltrap

• EMA(20) at ~118,400 has clearly been breached.

• When a bulltrap occurs → the price usually falls quickly, piercing the EMA as it is now.

✅ 4. Fundamentals: Short squeeze + long FOMO

• When BTC breaks the 120k peak → a large amount of shorts get liquidated, forcing them to buy → pushing the price up further.

• At the same time, it pushes Long players into FOMO at the exact peak → then the price pulls back strongly → double kill.

📉 Probability area of bulltrap creating a peak:

✅ 123,214 is highly likely a false peak (bulltrap).

If the scenario is correct: the price will not surpass this peak in the coming days, even reversing the short-term trend.

—> Trading strategy: Continue to hold shorts at 118k and 110k

- TP:

114,400 (old sideways zone)

110,000 (nearest bottom)

105,000 (strong support zone)